Write offs/adjustments/reversing an entry


M

Marilene

How do you do write off's in money. I'm use to using quickbooks and it has an
area for adjustments write offs and so on. I can't seem to do negative
entries in money.
 
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C

Cindy Conover

Marilene,

What are you trying to write off? The way I make an adjustment is by naming
the payee Adjustment and selecting what category I want the adjust to go to.
If you need to add to the balance of debt you do a create a charge(debit),
if you need to reduce the debt you create a deposit(credit). Let me know if
this helps.

Cindy
 
M

Marilene

I'm so use to the old standards of accounting that sometimes I make it to
hard when its not that hard at all. :)

What I'm trying to do is this:

I sell jewlrey and I sometimes need to give my customers a discount. But I
need to charge them sales tax on the full amount of the sale, then I put the
discount on the total amount of the sale (not including the tax). So my
dilema is that I can get money to do a discount on each item but them in
calcs the tax on the amount after the discount. All I can think of doing is
to write off the remainder of the amount owing. I'm using invoices. Does
money have sales receipts?

any help will be greatly appreciated.

Marilene
 
C

Cindy Conover

Marilene,

I understand what you are trying to do, unfortunately I do not use the
invoices in Money. I would re-post your last post so hopefully someone with
this knowledge can help you. I would tend to believe that the tax amount
should be after the discount not before. I am sorry I could not help you.
 
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M

Marilene

well it works like when they give you a free cell phone, you still have to
pay the tax or if you win a car, you still have the pay the tax. I pay the
tax up front when I buy the merchandise. So even if I give the customers a
discount on the item, I need to recoup my tax back.
 

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